Divisadero Street Capital Management LP Has $7.18 Million Stock Position in Peloton Interactive, Inc. (NASDAQ:PTON)

Divisadero Street Capital Management LP lessened its holdings in shares of Peloton Interactive, Inc. (NASDAQ:PTON - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 825,000 shares of the company's stock after selling 325,000 shares during the period. Peloton Interactive comprises 0.8% of Divisadero Street Capital Management LP's holdings, making the stock its 26th largest holding. Divisadero Street Capital Management LP owned 0.22% of Peloton Interactive worth $7,178,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Peloton Interactive during the fourth quarter worth about $28,000. Russell Investments Group Ltd. boosted its position in shares of Peloton Interactive by 969.6% during the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company's stock worth $35,000 after acquiring an additional 3,636 shares in the last quarter. Comerica Bank boosted its position in shares of Peloton Interactive by 29.1% during the 4th quarter. Comerica Bank now owns 6,164 shares of the company's stock worth $54,000 after acquiring an additional 1,389 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Peloton Interactive in the fourth quarter valued at approximately $69,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Peloton Interactive during the fourth quarter valued at approximately $72,000. 77.01% of the stock is owned by institutional investors.

Peloton Interactive Trading Down 5.4 %

NASDAQ:PTON traded down $0.35 on Friday, reaching $6.16. 22,595,787 shares of the stock traded hands, compared to its average volume of 15,597,905. Peloton Interactive, Inc. has a 1-year low of $2.83 and a 1-year high of $10.90. The company's 50 day moving average is $6.20 and its 200-day moving average is $7.79. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -8.00 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The firm had revenue of $624.00 million for the quarter, compared to the consensus estimate of $620.39 million. The firm's revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. On average, equities research analysts forecast that Peloton Interactive, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the completion of the sale, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. This trade represents a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nick V. Caldwell sold 68,727 shares of Peloton Interactive stock in a transaction on Monday, March 17th. The shares were sold at an average price of $6.59, for a total transaction of $452,910.93. Following the completion of the sale, the insider now directly owns 474,234 shares of the company's stock, valued at approximately $3,125,202.06. This trade represents a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 674,338 shares of company stock valued at $5,522,838 in the last ninety days. 1.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PTON. Deutsche Bank Aktiengesellschaft upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $6.60 price target on the stock in a research note on Monday, April 14th. Truist Financial upgraded Peloton Interactive from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a research report on Monday, April 28th. Telsey Advisory Group dropped their target price on shares of Peloton Interactive from $11.00 to $9.00 and set a "market perform" rating for the company in a report on Monday, May 5th. Argus upgraded shares of Peloton Interactive from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research note on Tuesday, February 11th. Finally, Citigroup lowered their price objective on shares of Peloton Interactive from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.30.

Peloton Interactive Profile

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.